Donald Mcclymont Sells 18,420 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 18,420 shares of indie Semiconductor stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $2.99, for a total value of $55,075.80. Following the transaction, the chief executive officer owned 298,500 shares of the company’s stock, valued at $892,515. This represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Donald Mcclymont also recently made the following trade(s):

• On Wednesday, March 25th, Donald Mcclymont sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $3.06, for a total value of $153,000.00.
• On Monday, March 2nd, Donald Mcclymont sold 90,644 shares of indie Semiconductor stock. The shares were sold at an average price of $3.56, for a total value of $322,692.64.

indie Semiconductor Stock Performance

INDI traded down $0.05 during trading on Tuesday, hitting $2.89. The stock had a trading volume of 2,570,369 shares, compared to its average volume of 4,549,985. The company has a 50 day moving average price of $3.28 and a 200-day moving average price of $3.93. The firm has a market cap of $646.38 million, a price-to-earnings ratio of -3.96 and a beta of 2.56. indie Semiconductor, Inc. has a one year low of $1.60 and a one year high of $6.05. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.73 and a quick ratio of 3.10.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $58.01 million during the quarter, compared to the consensus estimate of $57.11 million. indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) EPS. As a group, research analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Elemental Capital Partners LLC acquired a new position in indie Semiconductor in the 3rd quarter valued at $30,979,000. Vanguard Group Inc. raised its holdings in indie Semiconductor by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock valued at $62,203,000 after acquiring an additional 1,334,145 shares in the last quarter. Caxton Associates LLP acquired a new position in indie Semiconductor in the 2nd quarter valued at $887,000. Bamco Inc. NY raised its holdings in shares of indie Semiconductor by 23.5% during the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock worth $90,049,000 after buying an additional 4,813,397 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC acquired a new position in shares of indie Semiconductor during the 3rd quarter worth $3,931,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on INDI. Wall Street Zen downgraded indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. UBS Group set a $4.25 price target on indie Semiconductor in a research note on Sunday, February 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.45.

indie Semiconductor Company Profile

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie’s product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.